Ackman Quits Penney Board But Will He Quit Stake?

Now that activist Bill Ackmanis off the board at J.C. Penney, the next pressing question is if he also plans to exit his stake.

Ackman’s Pershing Square holds more than 39 million shares of J.C. Penney, or about 17.7% of the company. The position is now worth about half a billion dollars, down from the $1.1 billion it was worth when he revealed it in 2010.